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Significance and determination of fees for municipal finance

Friedrich, Peter; Kaltschuetz, Anita; Nam, Chang Woon - 2004

The idea of fiscal decentralisation has become increasingly fashionable world-wide. But every country has unique features of the intergovernmental fiscal system. In general municipal expenditures are rapidly growing in European countries. On the other hand local tax increases are not easily...

Persistent link: https://www.econbiz.de/10010261103

The sustainability of fiscal policy in the United States

Bohn, Henning - 2005

the entire interest bill on the U.S. debt. Unit root tests on real series, unscaled by GDP, are distorted by the series … surpluses to fluctuations in the debt-GDP ratio. …

Persistent link: https://www.econbiz.de/10010261171

Public pensions in the national accounts and public finance targets

Oksanen, Heikki - 2004

raises public debt and deficit to new orders of magnitude. The paper provides a framework for setting the debt and deficit …

Persistent link: https://www.econbiz.de/10010261211

Actuarial neutrality across generations applied to public pensions under population ageing : effects on government finances and national saving

Oksanen, Heikki - 2005

In welfare states, collective saving has declined to a persistently negative level, while reduced fertility and increasing longevity are leading to increasing pension liabilities. Actuarial neutrality across generations is presented as a benchmark for designing pension reforms to meet the...

Persistent link: https://www.econbiz.de/10010261300

Why is fiscal policy often procyclical?

Alesina, Alberto; Tabellini, Guido - 2005

Many countries, especially developing ones, follow procyclical fiscal policies, namely spending goes up (taxes go down) in booms and spending goes down (taxes go up) in recessions. We provide an explanation for this suboptimal fiscal policy based upon political distortions and incentives for...

Persistent link: https://www.econbiz.de/10010261343

Fool the markets?: Creative accounting, fiscal transparency and sovereign risk premia

Bernoth, Kerstin; Wolff, Guntram B. - 2006

We investigate the effects of official fiscal data and creative accounting signals on interest rate spreads between bond yields in the European Union. Our model predicts that risk premia contained in government bond spreads should increase in both the official fiscal position and the expected...

Persistent link: https://www.econbiz.de/10010263922

Sustainability of Austrian public debt: a political economy

Haber, Gottfried; Neck, Reinhard - 2006

Sustainablity of Austrian public debt is investigated in the context of political objectives such as stabilizing the … indicate that Austrian fiscal policies were sustainable in the period 1960-1974, while from 1975 on, public debt grew much more … rapidly. The development of public debt in Austria seems to be driven not primarily by ideology, but by structural causes and …

Persistent link: https://www.econbiz.de/10010263993

Corruption, seigniorage and growth: theory and evidence

Blackburn, Keith; Neanidis, Kyriakos C.; Haque, M. Emranul - 2008

This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance transmission channel. At the theoretical level, we develop a simple dynamic general equilibrium model in which financial intermediaries make portfolio decisions on behalf of...

Persistent link: https://www.econbiz.de/10010264401

Economic and political determinants of budget deficits in the European Union: a dynamic random coefficient approach

Bayar, Ali; Smeets, Bram - 2009

. Although the extent of government deficits and debt has been one of the most debated macroeconomic issues in recent times, the …

Persistent link: https://www.econbiz.de/10010264557

Economic, political and institutional determinants of budget deficits in the European Union

Bayar, Ali; Smeets, Bram - 2009

Using an extended data set of EU countries ranging from 1971-2006 and relevant econometric methods, we investigate the economic, political, and institutional determinants of government deficits in the EU. The results show a strong opportunistic behaviour of policymakers which leads to political...

Persistent link: https://www.econbiz.de/10010264607